Assurant insurance feedback
I just had a guest leave, our first one after reopening, and it appears they broke the face off a drawer and cracked the interior side of a large window. I collect a $500 deposit for each reservation. This person booked through VRBO and I will process a claim. This is the first time for us having damage like this that warrants filing a claim against a guests deposit. Usually, the damage is a broken wine glass or soiled sheets. These are small enough I just eat the cost (yes, I know, I know) because it wasn't worth it to me to make a claim against a guest when those are small mistakes that I could have made. This has me thinking about options and recalled MyVR offers Assurant. I've read discussion threads but did not find anyone posting their feedback and use. I am NOT integrated and only have one property and list on VRBO, AirBnB and my own website.
My question to this group is what is your experience in using this service - pros/cons?
If you are not integrated (or you are) how do you handle the charge for Assurant on VRBO and/or AirBnB?
Do you charge more than your cost and if so why?
Do you charge any other damage fees?
I would check first to see if they purchased a policy through CSA off VRBO's website.
As for the Assurant Damage Protection, we sell it on every reservation of 30 days or less.
It is $40 to us for $1500 in coverage and $50 for $3000 in coverage . We chose the latter coverage and do a slight markup on our $3000 coverage. ( One of our local competitors charges $150 for $1500 in coverage. )
One reason we elected to move to the Damage Waiver product was to cut costs on Credit Card Processing Fees. Since those are no longer refunded when we return a Security Deposit, our properties were eating the fees on those $500 - $1000 deposits.
In our case, we cut the card processing cost of Security Deposits by 88%. We have more coverage and our Property Owners are happier.
Assurant Damage Protection
Thank you Joseph. Have you made any claims against Assurant and if so how was the process for you? Any feedback from the guests about the extra charge?
@mary-freiberg Hi Mary,
Filing the claim is easy through the App on MyVR. And it's much easier to file a claim than to bicker with a guest over the price of the items they broke.
Not really getting any feedback. Possibly our pricing strategy seems to be working, we're charging $20 less than VRBO for twice the coverage.